How to Get Buy Now Pay Later TVs (20 Best Sources & Tips)

This article reveals exactly how and where to get buy now pay later TVs as well as some very powerful tips to help you get great deals.

 

Why Look for Buy Now Pay Later TVs?

There has been a steady progression in the way that consumers have purchased their needs and wants from businesses.

At first, it used to be cash on the barrel head.

Then credit was extended to individuals who would keep a running tab of items that they purchased and then at the end of a certain timeframe, those accounts were paid and cleared.

Credit cards were the next became a powerful component to purchasing items and an individual was able to buy items and carry balances over an extended period and pay for the privilege of buying those items right away.

That privilege came at a cost to the consumer through an annualized percentage rate or APR.

Now, a new way of a customer buying an item is known as “buy now and pay later.”

Therefore, let’s take a look at this new option for consumers to buy products from a variety of businesses.

 

Frog

Perhaps you’ve heard the story of the boiling frog?

As the story goes, if you put a frog in a cooking pot of tepid water and gradually increase the heat, the makeup of the frog is as such as that with the increased temperature, the frog’s body acclimates to the rise in temperature.

Consequently, it doesn’t jump out as the water increases in temperature to the point where the frog is boiled to death.

It is the gradual demise of the frog.

So, it can be with our credit.

Purchase here and purchase there and eventually, we have accumulated credit card debt and we wonder what on earth happened?

 

What Is Buy Now Pay Later?

Buy now and pay later is a purchasing option offered by businesses to the consumer.

The financial paying plan allows for the consumer to spread the cost of the item being bought over some time and in equal installments.

This is not a new option for transactions to be made between customers and the business but as of late it has been rediscovered and is gaining in popularity.

 

How Does Buy Now Pay Later Work for TVs?

When making an application you are asked for your information and the provider of the buy now and pay later transaction pulls a soft credit check.

Your application will be either approved or denied at this point.

The option of buying now and paying later is usually offered when you are checking out on an online site, and it offers you this option.

If you opt in to this payment plan at the cash register your app or your registered account will capture the transaction.

The first payment is made when the individual purchases at checkout.

The balance after the first payment is debited against your debit card or credit card until your purchase is paid in full.

The credit against these cards is not taken immediately but is on a delayed process.

 

Advantages and Disadvantages of Buy Now Pay Later

The advantages of buying now and paying later are if the individual does not have the financial resources to cover the entire purchase.

Therefore, one-time initial payments and then other payments spread out over time is an appealing way of buying an item.

Another advantage is that some of these buy now pay later plans do not charge any interest for any outstanding balances.

The disadvantage of entering into a buy now and pay later agreement is that if the individual misses a payment, for whatever reason, they may be assessed a fee for not following the terms of the agreement.

Another disadvantage is that some buy now pay later plans do charge a percentage rate and can range up to 30%.

 

When Should You Exercise This Option? 

The buy now pay later option is sometimes unavoidable.

Therefore, if a major purchase needs to be transacted, replace washer and dryer, mattress, etc., then this option may be the appropriate time to utilize this purchasing system.

The plan is fairly straightforward but if not adhered to according to the terms of the agreement it can cost the individual more money due to fees and penalties.

Also, you certainly want to exercise this option when the plan calls for no interest payments.

 

Terms of Buy Now Pay Later TVs

As with all things, it is important to understand what the terms of the agreement are that you will be entering into.

Those specific terms include how much you will be paying each month, any interest involved, what will be the total payment once the item has been completely purchased, any fees or assessments, when the amount of money for the installment will be due, etc.

 

Fees 

Not only may there be fees associated with the actual plan, but if you have set up this buy now pay later plan to be debited against your bank account then this may raise some additional concerns.

Specifically, if on the day of the month that the money is to be taken from your checking account and you do not have sufficient monies to cover that debt amount then the bank also may charge you an insufficient funds penalty.

 

Whole Picture 

Additionally, it may be helpful to use a buy now and pay later financial service that paints the whole picture for the consumer.

One such company, Affirm, always reflects and reveals the total interest that will be paid by the consumer at checkout.

Affirm does not charge any fees but assesses late fees which can be eight dollars or 25% of the actual order amount.

Therefore, before entering into a buy now and pay later agreement, it is best to see the whole picture of what you are agreeing to.

 

Risks of Buy Now Pay Later

Another risk that may present itself is the possibility of damage to your credit report.

Because all financial transactions are reflected in credit reports.

The three agencies that provide and record this information are Trans Union, Experian, and Equifax.

Therefore, if there are missed payments or late fees, this is reported to these three credit reporting agencies and will be part of your credit report.

 

Buy Now Pay Later TV Purchase Considerations

 

Warranties 

When buying a television utilizing the buy now pay later option, it is important to make sure that the TV that you are purchasing has a good warranty.

The rationale behind this suggestion is that you want to make sure that the investment of your hard-earned dollars is not wasted by buying a product that can work one moment and not the next.

 

Online 

When you have determined to buy an item and will be using this plan you certainly want to get the best deal available to you.

It is advisable to go online and not only search for the best price for the item that you are in the market for but who is offering the best BNPL plan as it relates to terms and interests.

 

 

Timing 

When buying a TV on this plan timing is everything as it relates to getting a good deal on the purchase.

TVs are a popular item that generally goes on sale around the holidays or in conjunction with big sporting events.

Therefore, if the individual can hold off on the purchase of a TV they can save some decent money as it relates to buying TVs when they’re on sale.

 

10 Best Companies to Get Buy Now Pay Later TVs

 

1. Affirm 

Affirm is an option that is provided to customers during their time of checkout if the retail store offers this option.

Many retailers have partnered with this buy now and pay later financial site.

Some of those retailers include Adidas, Purple, Walmart, to name a few.

Affirm does conduct a credit check and does charge interest ranging from 0% to 30%.

The payment plans may vary from retailer to retailer.

For example, Affirm has partnered with Walmart to offer repayment plans of 3, 6, and twelve months.

This plan can be utilized when the customer purchases a total amount ranging from $144 to $2,000.

Interest rates range from 10 to 30%

The customer can sign up for the program by scanning a special barcode presented at the register utilizing the Affirm app.

Click here to check out Affirm

 

2. Sezzle

This payment plan service partners with several online retailers including department store giant Target as well as Game Stop.

The customer can shop stores listed on the Sezzle app or when checking out the retailer’s checkout process or at one of the retailer’s websites.

Applying for a partnership with Sezzle is instantaneous as far as whether approval is received and there is no credit check.

Automatic withdrawals are every two weeks and monies are taken from your credit card, Google Pay, Apple Pay, or your debit card.

Click here to check out Sezzle

 

3. Afterpay 

With Afterpayy they allow for some time in which there are no fees or other charges assessed.

Afterpay provides for a grace period of ten-day.

If after that grace period, no payment is made then there is a late fee assessed.

The late fee is directly tied to how much the purchase was and the fees will never be more than 25% of the original purchase price.

Click here to check out Afterpay

Click here to see how Afterpay makes money

 

4. Splitit 

Not all retailers accept this buy now pay later site but if they do, your purchases can be divided up into monthly payments ranging anywhere from 3 months to 2 years.

At checkout, just select Splitit and input your preferred card that you wish to pay the installment payments on.

Once you set up the repayment plan you can then check out and that will complete your process as well as your purchase.

Click here to check out Splitit

 

5. Klarna 

Klarna this financial company allows you to divide your purchases into 24 payments.

It can be used on any online store where Klarna is accepted.

Also, there is an app associated with this buy now and pay later site.

At checkout, the process will give you the option as to whether you wish to use their issued “ghost” card.

When you make your purchase the first payment is assessed on the day of the purchase.

Subsequent payments will be debited against your debit or credit card every two weeks.

With Klarna, there is no credit check or late fees.

Failure to submit payments in a timely measure will be reflected by Klarna limiting any purchases in the future.

Click here to check out Klarna

 

6. Zebit 

The maximum amount that a customer can purchase using this buy now and pay later site is a maximum of $2,500.

Initial down payment is made and then the remainder of the amount owed can be split over a six-month time.

With Zebit there’s no interest, late fees, or prepayment penalties.

However, it is important to determine whether there are other fees involved such as paying more for an item or higher than normal shipping prices.

Also, any purchases of gift cards require an additional 18% handling charge to purchase those gift cards.

Click here to check out Zebit

 

7. Flex Shopper 

Flex shopper is a website that allows the individual to utilize the program as a lease to own.

The customer simply applies online and will receive a response in a matter of minutes.

Generally, the credit limit is fixed at $2,500.

By accessing the Flex Shopper marketplace, there are a variety of products that can be purchased.

Those products include items in the categories of appliances, electronics, and furniture.

The system is based on auto pay and automatic weekly payments begin after the customer receives their product.

The terms include payments spanning over a year and once that happens or if the amount is paid off early, the item is then owned by the individual.

 

8. Perpay

For customers with bad credit, Perpay is a buy now and pay later website directed towards this individual.

Some of the products that can be purchased through this financial company include Nintendo, Kitchen Aid, and Apple products

The setup for this buy now and pay later plan is directly tied to your paycheck.

In other words, an agreement is made with your employer to make payments directly from your salary.

Click here to check out Perpay

 

9. PayPal

PayPal has recently joined the paid later financial option.

PayPal will allow the customer to spread their payment in total for the purchased item if it falls between the price range of $30 and $600.

Therefore, when checking out at a register that has an agreement with PayPal, you choose this option, and then you have the opportunity to press the pay later button.

If you choose this option, the payments will be made every two weeks.

With PayPal, there is no interest and there is no credit report pulled and no credit report impact.

Click here to check out Paypal

 

10. Stoneberry

This buy now and pay later website does not require any annual membership fees and does not charge any fees if the customer goes over their limit.

Also, there are no fees associated if the customer chooses to pay their bill online.

To qualify for this program a form is required to be filled out to be prequalified.

This process does not require a pull on your credit score.

The website offers many companies to shop in and allows for the shopper to browse and buy through several different categories which include electronics, toys, jewelry, etc.

Once the order is completed the customer simply clicks checkout and the purchases are made utilizing Stoneberry credit.

Monthly payments can be low as $5.99 per month.

Click here to check out Stoneberry

 

Buy Now Pay Later Televisions FAQs

 

What Is Good About Buying Now and Paying Later?

The obvious benefit of buying now and paying later is if you are strapped for cash or if your credit cards are close to their credit limit.

Additionally, you can spread your payments out over a length of time.

Also, an added benefit is there may be no interest charged on those payments.

It is important to realize that someone needs to be making money in this whole process.

Therefore, it is always important to review thoroughly any financial transactions that are made.

 

What Is Bad About Buying Now Pay Later?

The potential bad or negative side of buying now and paying later is that even though you are not paying for that purchase at the moment and are deferring payments over some time, the reality is that payments still need to be made.

The other negative aspect that could be an issue is the potential of late fees and other charges that may be part of the convenience of using this payment system.

 

Conclusion

For the customer today there are a variety of ways that they can pay for items that they wish to purchase.

Those options include anywhere from paying cash or using a credit or debit card, or buying now and paying later.

Although the process has been streamlined to aid the customer is spending their money, a note of caution is that even though you buy now, with any of the overtime payments, you will pay later.

Therefore, the watchwords should be respecting your good credit and not overextend your finances or budget.